WHAT IS BAKTT and WHY IT IS IMPORTANT?
WHAT IS BAKKT?
"Bakkt is the brainchild of a number of firms including Microsoft, Starbucks, the Intercontinental Exchange and the Boston Consulting Group. "
Bakkt is building an open, seamless global network to enable you to buy, sell, store and spend digital assets simply, safely and efficiently. Bakkt’s secure global platform will connect investors, merchants and consumers, with an easy , faster and more cost-effective way to access, trade and use digital assets. Bakkt’s open-source, neutral platform will be designed to meet applicable regulatory requirements, and to support innovation around digital assets and blockchain applications.
WHAT HAPPENED?
Bakkt approved the first contacts to be physically delivered Bitcoin futures contracts against fiat currencies like USD. This is a huge new for the crypto community.
Also the company wrote on Twitter:
“For example, buying one USD/BTC futures contract will result in daily delivery of one Bitcoin into the customer’s account.” and the company claims that, that once contracts go live, those investors involved will receive daily Bitcoin payments and this will encourage a more consistent flow of Bitcoin.
WHY IT IS IMPORTANT?
Bakkt stated that institutional investment is going to make an huge impact on the markets, like many of us believe too. This platform can change the whole situation of the market, we could see some bullish movements in a short time.
